Are you a beginner looking to start a new small or medium business in Australia? Do you want to know which bank accounts suit your business needs? If yes, then this video is for you!
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In this video, we will discuss and compare different types of business bank accounts available in Australia. We will cover the following topics:
Free business transaction accounts: These are accounts that offer unlimited transactions with no monthly fees. They are ideal for businesses that have low cash flow or need to make frequent payments.
Premium business transaction accounts: These are accounts that offer more features and benefits than free accounts, such as higher interest rates, overdraft facilities, loyalty rewards, and more. They usually charge a monthly fee or require a minimum balance. They are suitable for businesses that have high cash flow or need to access additional services.
Business investment accounts: These are accounts that allow you to earn interest on your surplus funds. They include term deposits and savings accounts. They are perfect for businesses that want to grow their savings or have long-term goals.
General accounting software integration with different banks: This is a feature that enables you to link your bank account with your accounting software, such as Xero, QuickBooks, MYOB, and more. This allows you to streamline your bookkeeping and tax reporting processes.
Merchant payment accounts: These are accounts that enable you to accept payments from your customers using various methods, such as credit cards, debit cards, mobile wallets, and more. They include three types of EFTPOS solutions: countertop, mobile, and integrated.
E-commerce and online payment accounts: These are accounts that enable you to accept payments from your customers online, such as through your website, social media platforms, or online marketplaces. They include payment gateways, online invoicing tools, and digital wallets.
By the end of this video, you will have a better understanding of the different business bank accounts available in Australia and how to choose the best one for your business.
Please note that this video was created on 15 March 2023 and the research details depicted in this video can change after this date. This video is for informational purposes only and does not constitute financial advice. You should consult a professional before making any financial decisions.
We hope you enjoy this video and find it helpful. Please like, share, and subscribe to our channel for more videos on business banking topics.
DISCLAIMER: PLEASE DO YOUR OWN DUE DILIGENCE BEFORE MAKING FINAL DECISION FOR YOUR BUSINESS. THIS IS NOT AN FINANCIAL ADVICE AND HELPFUL TO SAVE YOU TIME AND LOOK INTO RIGHT CHANNELS WHILE DOING RESEARCH FOR YOUR BUSINESS BANK ACCOUNT. JUST-WISE ACCEPTS NO RESPONSIBILITY FOR ANY CHANGES OCCUR TO SERVICES.
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NOT FOR PROFITS AND TRUST BANKING NEED ARE NOT DISCUSSED IN THIS VIDEO. THIS VIDEO IS ONLY FOR SMALL TO MEDIUM BUSINESS BANKING NEEDS IN AUSTRALIA. Tags: #businessbanking #australia #businessbankaccount #businessbankingtips #justwiseaccounting Thumbnail: A picture of you holding a sign that says “Best Business Bank Account in Australia 2023” with some Australian bank logos in the background.